Member Info for Fevertreeman

I hope I am wrong, but with 3 weeks to go till end of Q1, I sense Harry Angostura Bitters is franticly rifling through his stuff cabinet of excuses to come up with one for when we sail past the quarter-end into 2Q. I think the sp is starting its descent back to 1.6p and below when the date passes. He is a little Greek tinker our share promoter friend

Indeed - what an utter cluster ++++ made worse by a Board hell-bent on screwing the shareholders

that makes up the Board, has contrived to destroy sentiment and value for the company they run. And they have the effrontery to continue (a) to take over-generous directors fees (b) not back the company with their own cash and (c) seem hell-bent on busting the business. It's an absolute disgrace

You are forgiven. Given all the hype around EV, and news from Volvo today about fully electric come 2030, companies like ST will begin to seep into broader investors consciousness I have no doubt. Given the momentum within the business, I'm expecting a steady stream of updates, some of which will be price sensitive but all of which will deliver the momentum need to propel this company forward.

And to put out an announcement to confirm what we already knew that stakeholders included bondholders is frankly ridiculous, and then add no more information was infantile and unnecessary. The main point was that operationally this business is in a bind.

Don't dispute your reasoning but I would have advised a more comprehensive comprehensible announcement rather than this piecemeal nonsense that flags yet more questions about direction of travel, competence, vision, and strategy

It was one of my roles to advise on these sorts of announcements. First, I do not understand why there was any pressing need to announce this now, given that they had not committed to a sidetrack to a second well but as the RNS says 'contemplated' it as an option. Second, they should have been fully aware of the damage this would cause to the sp ahead of the CPR; was their hand being forced or did they decide to put it out themselves. Either way, the effect has been to further damage the credentials of the Board now, unfortunately, including Maris the great white hope. And actually it raises yet the further question about whether they even have a strategy - it seems not. This is now hit and hope that the POO stays above $60 or so. The level of news management incompetence here is utterly mind-blowing

It would have been drafted by the PR advisers with input from the financial advisers (possibly -if deemed price sensitive) and the CEO. So yes another diastrous update

What baffles me is why they even put the bloody RNS out in the first place. What on earth is going on in that company/? Why put out another value-destroying RNS without any redeeming news or commentary. IT utterly beggars belief - why did they put this out now when there was no expectation? Why not combine the CPR announcement? Who is runnig the show there? What was d'ancona advising them to say? it is utterly baffling

Agreed but good or bad? If they are softening us up for the coup de gras of a s+++ update they are going about it the right way. I blame the PR muppets who are supposed to advise on these things

Its utterly shambolic, and now I'm afraid Maris seems to have been tainted with the board's utter incompetence as well

What an utterly useless RNS. This Board of Directors seems determined to destroy confidence in the company let alone value. Utterly disastrous announcement - no update on POO, no discussion of implications from the higher oil price, describing bondholders as ad hoc, suddenly saying sidetrack is too complicated, having previously d it wasn't. I mean wtf are these idiots doing to justify their directors' fees. They clearly want OUT and don't care what damage they cause to shareholders interests on the way out. It is completely obscene

Almost 6 months ago......share price is drifting post the placing and absent any contract news. One hopes that the supportive comments from our top team about progress weren't just designed to drum up support for the placing. COnfess to being mildly disappointed that we haven't had any positive contract news since.

Hard to see a t/over in the teens frankly given the usual premia are based on 30 days and 60 days. and I cant see anyone paying 3-4 times the current sp

Wouldn't that be just dandy. Thanks are due to one of the most incompetent and spineless Board of Directors I've come across for ages. Thanks to their multiple failures we sit here with the sp at a barely believable 3.7p. Lets hope the CEO who has now had plenty of time to assess things comes up with a strategy that finally does this company and its acreage justice. If it happens it will be a combo of serendity and hopefully, him showing more commercial nous that his benighted Board.

I hope I am wrong as I stand to lose a packet. I blame myself but the Board has been truly excreable in the management oversight and general approach to its business and governance.

I dont have great confidence that they will produce the glowing CPR that is needed here. And frankly if that isn't the case, Plan B has already been spelled out by the Board in the two "white flag, we surrender" RNSs subsequently released. So it is a binary bet and at the moment the Market is saying we think this is a busted flush

Absolutely dreadful, dreadful governance and oversight by the Chairman and Senior Independent Director, combined with absolutely no alignment with their own shareholders interests makes for a toxic combination after the woeful perfromance under Dr T.

On your point about the Board - they haven't bought a single share (any of them) since autumn when Maris was appointed. And even then it was paltry amounts of 5k each, bar Maris, (so 1ess 10% of their annual director fee). It frankly beggars belief, as they have not been in close period permanently since Sept. Their craven lack of support for the company goes to the heart of the issue here.
1. They were passengers in the mad laps driven by Trice and never once touched the brakes or told him to slow down etc.
2. They then ditched the pilot, and announced a revision of the potential reserves, to10% of original fig. they had signed off on, and threw in the bon mot that the com[pany might go bust.....
3. Since then PoO has scampered higher, & yet we have been anchored to the floor despite producing pretty prodigious cash flow from our one producing well

Conclusion: Mr Market reasons that having effectively said the business may not be commercially viable, nothing has changed beyond PoO sailing higher. if the reserves picture is as dire as they forecast, why rush in and buy, esp as the Board has not signalled their own confidence in the business since.

Not with this utterly craven Board of directors -wtf do they add ? Why t f do they take directors fees for the share destruction they have presided over?